Anadarko reports wide Q4 loss of $770 mln on provisions

HOUSTON Mon Feb 3, 2014 4:39pm EST

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HOUSTON Feb 3 (Reuters) - Anadarko Petroleum Corp on Monday reported a wide quarterly loss of $770 million, or $1.53 a diluted share, on hefty provisions and despite record sales volumes.

After-tax charges of $1.15 billion included $576 million related to the ongoing Tronox case and $402 million for divestitures.

Profit in the fourth quarter a year ago was $203 million, or 40 cents per diluted share.

Sales volumes of natural gas, crude oil and natural gas liquids (NGLs) in 2013 totaled a record 285 million barrels of oil equivalent (BOE), or an average of 781,000 BOE per day, a rise of 7 percent on the year.

But in the fourth quarter sales of oil and gas slipped to $3.34 billion from $3.41 billion the year ago period on softer prices.

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